Gunderson Capital Management Inc. Has $3.32 Million Stock Holdings in Mercury General Co. (NYSE:MCY)

Gunderson Capital Management Inc. lowered its stake in Mercury General Co. (NYSE:MCY) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,722 shares of the insurance provider’s stock after selling 1,022 shares during the quarter. Mercury General makes up approximately 1.4% of Gunderson Capital Management Inc.’s investment portfolio, making the stock its 27th largest position. Gunderson Capital Management Inc. owned 0.10% of Mercury General worth $3,320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCY. Hennessy Advisors Inc. acquired a new stake in shares of Mercury General in the 2nd quarter valued at about $8,492,000. Dimensional Fund Advisors LP raised its holdings in Mercury General by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,999,235 shares of the insurance provider’s stock worth $106,237,000 after buying an additional 88,954 shares during the last quarter. Lighthouse Investment Partners LLC lifted its stake in shares of Mercury General by 783.7% in the second quarter. Lighthouse Investment Partners LLC now owns 97,175 shares of the insurance provider’s stock valued at $5,164,000 after buying an additional 86,178 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Mercury General by 7,606.6% during the first quarter. Russell Investments Group Ltd. now owns 53,330 shares of the insurance provider’s stock worth $2,752,000 after acquiring an additional 52,638 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Mercury General by 1.5% during the first quarter. Vanguard Group Inc. now owns 3,256,765 shares of the insurance provider’s stock worth $168,049,000 after acquiring an additional 48,508 shares in the last quarter. 42.39% of the stock is owned by institutional investors.

Mercury General Stock Up 2.3 %

MCY traded up $1.43 during midday trading on Wednesday, reaching $64.54. 27,911 shares of the company were exchanged, compared to its average volume of 235,135. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 16.23 and a beta of 0.81. Mercury General Co. has a one year low of $28.21 and a one year high of $67.11. The company’s fifty day moving average price is $61.70 and its 200 day moving average price is $56.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.31 and a current ratio of 0.31.

Mercury General (NYSE:MCY) last posted its earnings results on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.29. Mercury General had a net margin of 6.36% and a return on equity of 14.91%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the business posted ($0.47) EPS. As a group, analysts expect that Mercury General Co. will post 4 EPS for the current year.

Mercury General Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, September 12th. Mercury General’s dividend payout ratio (DPR) is currently 32.65%.

Mercury General Company Profile

Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company also writes homeowners, commercial automobile, commercial property, mechanical protection, and umbrella insurance products. Its automobile insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products comprise dwelling, liability, personal property, and other coverages.